CommScope has announced that it was selected by Casa Systems, Inc. as the highest to acquire Casa’s cable business assets and that the two companies have entered into a purchase agreement for CommScope to pay $45,100,000 to purchase the assets through an auction process under section 363 of the Bankruptcy Code.
A sale hearing is scheduled for June 4, 2024, and the transaction is expected to close June 6, 2024.
Casa Systems filed for bankruptcy in April.
CommScope said the deal strengthens its Access Network Solutions leading market position, including enhancing its virtual CMTS and PON product offerings and that there are significant synergies between its products and the assets being acquired from Casa.
“As a leader in the cable industry, we are quite pleased by the opportunity to acquire Casa’s cloud-native network solutions,” stated Chuck Treadway, CEO, CommScope. He continued, “Adding Casa’s technology to our portfolio will allow us to provide a seamless transition for our combined customer base that utilize both integrated and virtual CMTS products. This transaction provides stability to Casa’s customers while allowing CommScope to further grow our customer base as we enable customers to migrate to Distributed Access Architecture solutions on their own timeline.”
